RSS
Home
Stimulus work creation controversy
Print
Email
RSS
Subscribe
FILE - In this March 5, 2009 file photo, job seekers join a line of hundreds of people at a job fair sponsored by Monster.com in New York. Even with an economic revival, many U.S. jobs lost during the recession may be gone forever and a weak employment market could linger for years.
Record unemployment rates shouldn't come as a surprise and Washington isn't helping with it's 1,000 page bills that will raise taxes, healthcare costs, utility bills and debt.
Who is going to pay for all these increases when jobs are getting harder to find..
President Obama signed a law Friday that would extended unemployment benefits for as many as 20 weeks along with some modest business tax relief. Meanwhile the unemployment rate has broken the 10% level for the first time since 1983 that is the highest unemployment rate in 26 years.
The president vowed the government would do more to bring unemployment down from October's 10.2% rate. So far the White House budget office already has asked cabinet agencies to present two budget requests for the fiscal year of 2011, in an attempt to freeze spending at current level and another that will cut spending to 5%.
To make matters worse, on Wednesday HeatingOil.com reported that Americans are growing more and more concerned over Chinese efforts to invest in US renewable energy projects. This debate has now caught the attention of New York Senator Charles E. Schumer. According to the New York Times, the Senator is calling on President Obama to deny the use of stimulus money for projects that would largely require manufacturing outside of the US.
Schumer went on to reference a study by the Investigative Reporting Workshop at American University, which found that "84 percent of green' stimulus funding has thus far gone to foreign companies." Stating that the stimulus money "is supposed to create jobs in America," the Senator vowed that he would introduce legislation to prevent such funding if actions are not taken.
More/Sources
Schumer Seeks to Block Stimulus Money for Chinese-Backed Texas Wind Farm
Related Articles:
Add a Comment
